Pictet Asset Management Holding SA Sells 5,029 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Pictet Asset Management Holding SA lowered its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,932 shares of the company’s stock after selling 5,029 shares during the quarter. Pictet Asset Management Holding SA’s holdings in American Electric Power were worth $17,979,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AEP. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the 3rd quarter valued at $25,000. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power during the fourth quarter valued at about $25,000. Fairway Wealth LLC purchased a new position in American Electric Power in the fourth quarter valued at about $32,000. Safe Harbor Fiduciary LLC bought a new position in American Electric Power in the third quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of American Electric Power during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.8 %

NASDAQ:AEP opened at $108.37 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The company’s fifty day moving average price is $103.23 and its 200-day moving average price is $99.17. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.76. The firm has a market capitalization of $57.84 billion, a P/E ratio of 19.35, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter last year, the company posted $1.23 earnings per share. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a dividend of $0.93 per share. The ex-dividend date was Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.43%. American Electric Power’s payout ratio is 66.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America increased their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. BMO Capital Markets increased their price objective on American Electric Power from $107.00 to $111.00 and gave the company an “outperform” rating in a report on Wednesday, March 26th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, Morgan Stanley upped their price objective on shares of American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $100.77.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.